San Lorenzo Completes NEXT Phase of Salvadora Drill Program

SAN LORENZO COMPLETES NEXT PHASE OF SALVADORA DRILL PROGRAM

Calgary, Alberta, August 3, 2023 – San Lorenzo Gold Corp. (“San Lorenzo”) is pleased to announce

completion of the additional drilling on the Caballo Muerto Zone of its flagship Salvadora property in

Chile.

The drilling program was designed to expand upon the discovery hole that was drilled during San

Lorenzo’s 2022 drilling program. That hole, SAL 03-22, encountered significant porphyry style

mineralization returning grades of 1.44 g/t gold over 112 meters.

This program involved the drilling of 4 holes totaling 1414.4 meters of drilling – all of which offset the

SAL 03-22 discovery hole.

Figure 1 below provides the locations and directions of the holes drilled:

Terry Walker, San Lorenzo’s VP Exploration stated: “We are pleased to report that significant

mineralization and the same style of alteration as in SAL-03-22 was encountered in each hole. We are

excited to receive the assay results from these in the near future and plan to follow up with much larger

and systematic drilling programs to define the gold- copper resources within the CMZ and the five other

porphyry copper-gold and related high-grade epithermal gold-silver-copper zones.

Gordon Aldcorn, San Lorenzo’s VP Corporate Development commented” “Our Salvador property, that

totals 8,969 ha’s and is on trend and just 15km from the El Salvador mine (that has been in production

for over 60 years), is endowed with a number of mineralized zones of merit. The Arco de Oro and the

Tres Amigos epithermal systems have exhibited favorable drill results to date, while the Caballo Muerto

zone currently being drilled is just one of several copper-gold rich porphyry style alteration zones on the

property that merit further exploration. As our limited drill program generates further data we will

continue to seek opportunities to further our objective to uncover our target porphyry objective while

also exploring means of monetizing the other zones of merit on the Salvadora property.”

Samples have been shipped to ALS Laboratories in La Serena for preparation and from there the sample

pulps will be shipped to Lima, Peru for analysis. Results are expected to take 3-4 weeks and will be

released as assay results become available.

About San Lorenzo Gold Corp.

San Lorenzo Gold is in the business of exploring for and advancing mineral properties. San Lorenzo

currently has three 100% owned properties in Chile: Salvadora, Nancagua and Punta Alta. The Salvadora

property is being explored for large scale copper-gold porphyry targets and high-grade epithermal gold-

silver-copper vein systems. Nancagua is a high grade mesothermal gold-silver prospect. Punta Alta is a

IOCG prospect with related disseminated and vein style high grade copper-gold-silver-cobalt

mineralization.

For further information on the Corporation, readers are referred to the Corporation’s website at

www.sanlorenzogold.com and its Canadian regulatory filings on SEDAR at www.sedar.com.

For further information concerning this press release, please contact:

Gordon Aldcorn

V.P. Corporate Development

Email: [email protected]

Phone: +1 587-430-0333

Or:

Terry Walker M.Sc.

VP Exploration

Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news

release.

Not for distribution to United States newswire services or for release, publication, distribution or

dissemination directly, or indirectly, in whole or in part, in or into the United States

Cautionary Note Regarding Forward-Looking Information

This press release may contain forward-looking information that involves substantial known and

unknown risks and uncertainties, most of which are beyond the control of San Lorenzo. All statements

included herein other than statements of historical fact, including statements pertaining to the drilling

program, are forward-looking information. Such forward-looking information involves various risks and

uncertainties. There can be no assurance that such information will prove to be accurate, and actual

results and future events could differ materially from those anticipated in such information. Any

forward-looking statements are made as of the date of this release and, other than as required by

applicable securities laws, San Lorenzo does not assume any obligation to update or revise them to

reflect new events or circumstances.